Business and Economy

NGX All-Share Index maintains bull run rising by 0.60% at close of trading on Tuesday

For the third consecutive session, the Lagos bourse maintained the bull run bringing the benchmark index up by 0.60% to close at 44,929.33 points. Buying interest in telco heavyweight, MTNN (+1.52%) and BUAFOODS (+1.27%) were the major drivers of the market’s positive performance. Consequently, the year-to-date (YTD) return rose to 5.18%, with the market capitalisation increasing by ₦123.91bn to close at ₦24.47trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 97.51%. A total of 126.56m shares valued at ₦3.85bn were exchanged in 3,383 deals. ZENITHBANK (+1.84%) led the volume chart with 13.55m units traded while MTNN (+1.52%) led the value chart in deals worth ₦2.40bn.

Market breadth closed positive at a 6.75-to-1 ratio with advancing issues outnumbering declining ones. UPDCREIT (+10.00%) topped twenty-six (26) others on the gainer’s table, while PRESCO (-7.17%) led three (3) others on the laggard’s log.

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